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« Khan Resources Inc: An upside breakout! | Main | UraMin Inc: Sell »
Friday
Jun222007

Ur-Energy Inc: Up 16.0% in 6 days

Ur-Energy Incorporated was as low as $4.18 on the 13th June 2077 and this uranium stock closed yesterday at $4.85 for a gain of 16.0%.

We had joked that some of the less savvy investors miss took this stock for UraMin Incorporated and bought it by mistake but that is a little unfair, to say the least, on Ur-Energy Incorporated. On closer inspection we can see that the news flow recently has been pretty good starting with the Exploration, Development and Mine Operating Agreement with Target Exploration & Mining to form the Bootheel Project. The Bootheel Project covers a defined area of approximately 6,000 acres in the Shirley Basin area. This was quickly followed with the news that Ur-Energy had been selected to be included in the new S&P/TSX Global Mining Index, which was launched Tuesday, June 12, 2007. Finally we have news that Ur-Energy has new office space in Casper, Colorado as they increase their staff from around 10 to around 20 in order to order to advance and establish a production office. So, this management team is demonstrating that it is pro-active and is actually getting things done. Well done to all of them.

Ur-Energy Chart 21jun07


Taking a quick look at the chart we can see that Ur-Energy has been holding up pretty well while other uranium stocks have indeed suffered at the hands of profit takers. You will note that the technical indicators are all at or near to the top of their respective ranges, which suggest that it could have run a little ahead of itself. However it will be interesting to see if it can break out above its previous high and put in a decent rally. With all the take over rumours doing the rounds you never know!

Ur-Energy trades on the TSE under the symbol of URE.

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Reader Comments (5)

URE is another I own in my Uranium basket. Second-best ISL team in the industry, behind EMC (Soon to be SXR). Possible takeout target, but in speaking with this management team, their intention is to bring their flagship projects to production.

With a recent brokered PP of $82 million in the bank, they are well positioned to succeed. Don't be surprised to see them start acquiring companies (such as TEM once they've further developed the Shirley Basin project) as there is an internal desire to start buying smaller companies at a discount while the market is soft.

They've mentioned that they have interest in progressing their other projects (which they are now doing with the TEM JV agreement), and knowing that they have bar-none the best historical database of Wyoming (including competetor's properties) in their hands, have the ability to grow well past their current size & CAP. Now if they'd just expand into some smaller nearer term potential (pro U mining States [Utah]), I think they'll be set to match EMC.

On another note, here's an update on my Uranium basket:

FCO - Formation Capital - JV on Uranium properties with Cameco. (Uranium & America's largest Cobalt production, owns a current precious metals smelter)

TVL - Tournagin Gold. 43-101 out in short order. 75 million lbs + U which has become one of the top 3 deposits in the world- Will be taken out

UPC - Uranium Power Corp, Chris Heally's (ex Cameco USA, US Energy) relationships with EMC (US Energy) way too deep to not be acquired. 50% of near term 17 million lbs U project in Wyoming with EMC.

TEL - Trigon Uranium Corp., has assembeled a combination of projects which could prove up 20 million + lbs in Utah, with 10+ million on the border of Denison's Tony M mine (to start production Q4 2007), and by far the largest team of experienced Uranium Geologists and experienced Uranium Miners in such a small CAP company (Mostly ex-Energy Fuels Nuclear & Cotter Corp.)

XE - Xemplar Energy - ex Langer Heinrich (Paladin) and Forsys. Namibian exploration properies comprise one of, if not the largest packahe of highly prospective Namibian properties of all companies.

June 23, 2007 | Unregistered CommenterSam

Terrific comment - Thanks.

The URE management team might well intend to bring their flagship projects to production but don't they all say that?

Money doesn't talk but it screams - I think that was Bob Dylan.

If the right amount of cash is put on the table then URE will sell, in our humble opinion.

Its great to see someone share their portfolio with us - it gives our readership and us other ideas a little beyond the usual mantra - thanks again.

June 24, 2007 | Unregistered CommenterUranium Stocks

I do agree with you; everyone's for sale for the right amount of cash. They will however, need to expand the development of their current portfolio & massive database if they want to realise full-potential value of the company. I believe the JV with TEM was a good start, and hope they continue to build relationships to exploit their portfolio, while using up little of their precious knowledge based resources (manpower). In other words - 'growth through the drill bit' (a la Strathmore) to unlock the value of their holdings.

June 24, 2007 | Unregistered CommenterSam

UR-Energy forms joint venture with Trigon Uranium Corp. on Wyoming properties surrounding former producing Uranium Mine, Hauber.

Trigon will be the operator of the property.

Excellent news for both companies unfortunately, released on a horrible day on the markets for all commodites and energy stocks.

June 25, 2007 | Unregistered CommenterSam

Ur-Energy is down about 4% at the moment, you are bang on about it being a bad day to put out a news release, still we will see how the market reacts when this negativity dissipates!

June 25, 2007 | Unregistered CommenterUranium Stocks

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